Los Angeles Firm Acquires Houston Retail Project

HOUSTON – Westwood Financial Corp. acquired the Market at Lake Houston, a 102,000-SF retail center in the Atascocita area in northeast Houston. It is anchored by an H-E-B grocery.

Rusty Tamlyn and Ryan West of HFF marketed the property, located on FM 1960 East.

“This center garnered a wide level of interest, given its strong H-E-B sales and that very few H-E-B-anchored retail centers in Texas come up for sale where H-E-B is a tenant versus H-E-B owning its store,” West said.

Los Angeles-based Westwood, led by CEO Joe Dykstra, has a portfolio with 120 shopping centers, including four other properties in the Houston area.

The Market at Lake Houston was completed in 2002 and is fully leased to national and regional tenants, including H-E-B, Sally Beauty Supply, Payless ShoeSource, GameStop, VIP Nails and Spa, Five Guys, Market Cleaners, Leslie’s Swimming Pool Supplies and Subway.

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Texas-based RealtyNewsReport.com covers regional and national news of significant trends and transactions in commercial and residential real estate. The publication was founded by Ralph Bivins, an award-winning journalist with extensive experience in print, broadcast and online media. Bivins recently received a number of awards in the 66th Annual National Association of Real Estate Editors Journalism Competition.